Sunstar Insurance Group was founded in July, 2012 by David L. "Casey" Bowlin who raised the founders round of equity capital and serves as
its Chairman and CEO. The firm is owned by key employees and a group of outside private investors. It is managed by an Executive
Committee composed of senior executives from our acquired agencies and governed by a Board of Directors.
The company's first acquisition was the Chapman-Sander Insurance agency in St. Louis, Missouri which was founded in 1934. This agency is known for its focus on the construction industry and for its long standing representation of the Cincinnati Insurance Company. The transaction was closed in September 2012.
Next, was the acquisition of the First Delta Insurance agency in West Helena, Arkansas. This agency was founded in 1961 and is known for its expertise in the agriculture industry. Its diverse client base is spread across the Arkansas Delta from Memphis to Little Rock. The transaction was closed in December of 2012.
In February of 2013, a production and service team left the Pitts Boyd agency in Memphis, Tennessee in order to start the Sunstar Insurance Agency of Memphis. Their client base is built around the medical industry, and this team specializes in serving large corporate accounts.
Sunstar raised its second round of equity capital in October, 2013 which was funded by key employees, the founders round investors and several new private investors. The success of this initiative allowed the company to continue with its acquisition driven growth strategy.
The Bovard Insurance Group in Kansas City, Missouri was purchased in November of 2013. This agency was started in 2007 and is well known for serving the home building industry and other prominent Kansas City businesses. The agency's technology platform and paperless work environment have been adopted by all Sunstar agencies as a cornerstone of our common administrative system.
The next acquisition was the Lakenan Insurance agency of Ste. Genevieve, Missouri, a suburb of metropolitan St. Louis. The firm has been in business since 1938 and is the largest insurance broker in that region. Their industry expertise is centered around restaurants, electrical utilities and contractors. The transaction was closed in May, 2014.
On July 1, 2015 Sunstar announced the closing of a new round of equity capital in the amount of $26 million. Investors in this round included employees, current shareholders and a new institutional investor, LNC Capital, which is a prominent, Washington D.C. based private equity firm. LNC Capital’s initial commitment was $20 million. Simultaneously with this closing, Sunstar also closed on the acquisition of the W.E. Walker-Lakenan agency in Cape Girardeau, Missouri. This 100 year old firm has a long history and outstanding reputation within the business community if that area.
Then on November 1, 2015 Sunstar announced the closing of the acquisition of Sims Insurance Services, Inc, of Wichita, Kansas. This firm had established a unique market niche focused on assisted living and nursing home facilities throughout the Midwest. This acquisition also strengthened Sunstar’s presence in Kansas, and its employee count pushed the Sunstar total to 102 full time employees.
Hogan Insurance Group of St. Louis, Missouri, was acquired on March 1, 2016. This agency has a strong client presence with religious institutions in Missouri and Illinois, and a deep relationship with its 18 insurance companies. This acquisition also added to our market share in the metropolitan St. Louis area.
PJC Insurance of Springfield, Missouri was acquired on September 1, 2016. This firm is one of the largest independent insurance agencies in Missouri and offers products and services to clients throughout the Midwest with a focus on the transportation industry.
On July 1, 2017, Sunstar purchased certain assets of the Warren Group in St. Louis, Missouri which added to our strong market presence in that city. This transaction brought additional expertise in the construction and marina industries, as well as to our personal lines business.
On September 1, 2017, and in conjunction with the acquisition of the Simmons Bank agencies, Sunstar successfully completed a new senior credit facility with CIBC Bank in Chicago, Illinois that included both a revolver and a fixed term loan component. Sunstar acquired the property and casualty agencies formerly owned by Simmons Bank. This move opened up new offices in the Little Rock, Jackson and Nashville markets and added 52 new employees, increasing total staff count to 216. Further, Andrew Meadors was named as the CEO of these agencies.
On January 1, 2018, Sunstar acquired the agency owned by Stephens Capital in Jonesboro, Arkansas. Prior to the Stephens ownership, this agency was known as the Town and Country Agency and has operated in the Northeast Arkansas area for 56 years. This acquisition enhanced our market presence in the important footprint state of Arkansas and pushed the Sunstar employee count to 229 with over $300 million premiums placed with underwriters.
On February 1, 2018, Sunstar acquired the Matson Insurance Agency specializing in employee benefits, which became a division of Sunstar Insurance of Arkansas.
On July 1, 2018, the Strong's Insurance agency in Wichita, Kansas was acquired. This 100 year old firm has a long history with a significant market share in the Wichita area. The agency has market specialties built around the agriculture and energy industries. This acquisition increased our employee staff count to 240 as well as enhancing our presence in Kansas.
On October 1, 2018. The Insurancenter in Joplin, Missouri was acquired. The 125 year old firm is the largest agency in that market with an outstanding reputation as a corporate citizen and respected member of the business community. This firm writes a national insurance program for car wash owners in addition to being a full service provider of commercial, personal and employee benefits coverages. This acquisition will add to our overall market share in Missouri and strategically position us for future growth on the southwestern part of that state.